Sandton Fun Factory equips early childhood development educators with financial skills

Sandton Fun Factory has developed South Africa’s first financial literacy programme, successfully piloted in 2023 with the collaboration of two universities, including Edutel.

This past weekend marked a significant milestone as the first group of early childhood development (ECD) educators received training on this comprehensive programme, set to scale to numerous ECD centres across the nation.

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Sandton Fun Factory CEO Mariana Naude said they are training teachers to deliver the 40-week financial literacy programme to children aged three to six.

“Through collaboration with the financial sector, we are enhancing the financial literacy knowledge of the teachers themselves. Our motto is simple: You can’t teach what you don’t know,” she said.

Naude said the devastating impact of Covid-19 on the ECD sector highlighted the vulnerability of its workforce.

“Many centres closed permanently, leaving employees, often at retirement age, without any retirement plans. This challenge prompted the Sandton Fun Factory to investigate financial inclusion for ECD employees and explore how centre owners could better support their staff’s financial well-being,” she added.

The programme consists of five key financial topics; earning, saving, budgeting, donating, and banking, integrated into the normal classroom curriculum.

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“This engaging curriculum spans ten weeks and is repeated every term, ensuring reinforcement during crucial early developmental stages.

“For example, if the week’s theme is: ‘The Farmer,’ teachers will incorporate these financial concepts into related discussions and activities, emphasising hands-on, play-based learning,” Naude said.

She added that parent involvement is a vital component of their programme. “We send home weekly curriculum letters that guide parents on how to teach financial literacy to their children, continuing the learning beyond the classroom.

“The feedback has been overwhelmingly positive. Teachers reported personal financial insights gained throughout the programme, while parents expressed eagerness to engage in financial discussions with their children at a young age,” she said.

The initiative aims not only to improve children’s financial understanding but also to evaluate its long-term impact on the ECD sector’s workforce.

Financial education sessions for teachers are conducted by the banking partner, focusing on budgeting, financial planning, and retirement preparedness.

Naude highlighted the importance of addressing financial security for ECD staff, many of whom lack retirement options. “Our journey has illuminated the critical need for ECD employees to plan for retirement and potentially start small businesses,” she said.

As the Sandton Fun Factory looks to the future, plans are underway to expand the financial literacy programme to more ECD centres in 2025, as well as into foundation phase classrooms, thereby reaching older learners.

“We recognise the diverse needs of different communities, and with donor support, we aim to enhance our programme further by introducing an environmental component,” Naude added.

The Sandton Fun Factory firmly believes in the transformative power of early financial education.

“Research indicates that teaching financial literacy from a young age can pave the way for future adults to escape cycles of poverty. Our motto is to catch them when they are young, empowering them to make smarter money choices as they grow,” Naude concluded.

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